The reason for consumer hostility is that the station is serving up what might be the costliest gas in the land. This week, as crude oil flirted with $110 a barrel and gasoline prices surged nationwide, a gallon of regular at Amerigo was going for $5
...key culprits: the CEOs who misrepresented their books and cashed out before the public knew what was happening, and the credulous finance reporters and securities analysts who cheered them along until it was too late.
Bullion for immediate delivery climbed to as much as $1,032.70 an ounce
Last month, 2,250 homes in the Valley were foreclosed on. That is 200 more than in January. A year ago, there were only 365 foreclosures in metro Phoenix.
``The government is prepared to do what it takes to maintain the stability of our financial system,'' Paulson told the ``Fox News Sunday'' television program in Washington today. ``Our focus, our No. 1 priority, is the stability of ou
The Bush administration will "do what its takes" to stabilize chaotic markets and minimize the economic damage, Treasury Secretary Henry Paulson said after a tumultuous week capped by the government rescue of a teetering investment bank.
Having given a lot of thought to both the differences and the similarities between the two superpowers - the one that has collapsed already [Russia], and the one that is collapsing as I write this [U.S.] - I feel ready to attempt a bold conjecture, a
First Countrywide, now Bear. Why did the Fed not let Bear collapse? You can attribute it to the Fed's tendency to take responsibility for problems it can't and shouldn't fix, but this one is a trickier call than Countrywide.
The U.S. economy lost the title of "world's biggest" to the euro zone this week as the value of the dollar slumped in currency markets. Taking the gross domestic product of both economies in 2007, the combined GDP of the 15 countries wh
Ron Paul on Fox Business 3/13/2008 and his expert opinion on the financial markets and the Federal Reserve's recent $200 Billion fiat money printfest.
The government's debt limit would be raised to $10.2 trillion under a budget approved by the House of Representatives. Their fiscal 2009 budget, would increase U.S. borrowing authority by $385 billion. [borrowing our way to prosperity]
Bear Stearns credit rating was reduced 3 levels to BBB, the second-lowest investment grade, and may be cut further S&P said. Bear Stearns can't get capital regardless of its rating, Harding said. "What their rating is now is irrelevant,
Federal Reserve Chairman Bernanke invoked a law last used 4 decades ago to keep Bear Stearns from collapsing after the securities firm approached the Fed for emergency funding. The loan required a vote because the company isn't a bank
"I believe the US economy is now in recession,'' economist Martin Feldstein, president of the National Bureau of Economic Research, said."The situation is bad, it's getting worse and the risks are the situation could be very bad
Released Tuesday, the report from the Government Accountability Office offers a sobering assessment of the ambitious effort to deliver a modern series of aircraft known as the F-35 Lightning II to the Navy, Air Force and Marine Corps.
March 14 (Bloomberg) -- U.K. government bonds rose after Bear Stearns Cos. got an emergency bailout from JPMorgan Chase & Co. and the Federal Reserve, stoking concern credit-market losses are spreading.
The pump finally stopped at $97.20, which put 24.5 gallons in his Chevrolet Avalanche. He was elated about living on Maui and being reunited with his pickup truck, but he wasn't so thrilled about paying nearly $4 for a gallon of regular.
We can only hope that the Bush crime family's money is still in there, but I doubt it.
In this C-SPAN video, Ron Paul warns of a worldwide economic collapse brought on by the fall of the dollar, the expense of maintaining an American empire, and soaring budget deficits.
Last month's median home price fell 19.2 percent from the peak of $505,000 reached last spring and summer.
US home foreclosure filings in Feb. edged down from Jan. but were a whopping 60% higher than a year earlier, real estate data firm RealtyTrac said. The surge in foreclosures from a year ago indicate the cycle has yet to hit its peak.
The generous contributions by wealthy individuals to religious organizations and educational insititutions can be used against them down the line.
The latest insane idea (and there have been so many of them they are hard to keep track of), is from Sen Johnny Isakson who proposes $15,000 Rebate Checks For All Home Buyers. Mish
Prior Tuesday's monster 416-point Dow rally, the Global markets - not just the US - were panicked, possibly on the verge of a crash. On the Monday bank & financial stocks were in the grips of mini-crashes of their own...
March 10 (Bloomberg) -- Let's face it: The Federal Reserve must be scared to death as it watches the financial system unravel.
The panic actions by the Fed to inject liquidity will not work. $200 billion may sound like a lot of money, but when you compare it with the size of the markets that are melting down — there are $11 trillion in U.S. mortgages outstanding — it’s a dro
With global coordination from the ECB, Bank of England, and the Bank of Canada, the Fed is desperately trying to pump liquidity into the markets. While the short covering rally will suggest euphoria, the regulators have raised the stakes this morning